According to Dr Emsley Tromp.: As a regulator, the CBCS ready the international financial services sector

During the first STEP Curacao Conference dr. Emsley Tromp emphasized that solid
regulation is a critical success factor for an international financial center. The
Central Bank of Curaçao and Sint Maarten, CBCS, is responsible for monitoring
the financial sector of Curaçao and Sint Maarten. Monitoring the international
Financial services is mainly aimed at strengthening the safeguards and further
our reputation as a sound and transparent financial center.
According to Dr. Tromp are effective rules and processes aimed at ensuring the financial
stability is an important precondition for businesses when choosing a
create location. The legislation must then be reviewed and updated regularly
to improve the supervision of the financial sector and the transparency of the activities in the
increasing financial sector. In this connection, the control consists of, inter alia, evaluate the
financial health, financial integrity, administrative procedures and internal
control of the supervised institutions.
As supervisor of the financial sector, the CBCS performed prudential supervision with the aim of
fair and transparent financial market. The supervision is aimed at promoting the
financial integrity and combating money laundering and terrorist financing.
The legislation that serves as the basis for monitoring by the CBCS must be regularly
modified and extended, as the international financial sector in a very dynamic
operating environment. In cooperation with the government and the private sector will now be
worked several new laws to improve financial supervision, including a
draft Ordinance for the supervision of securities dealers and asset managers. As Well
is working on legislation to harmonize existing legislation in the field of
supervision to standardize and update. 2
To maintain our reputation as an international financial center, the regulations serve and
supervision to meet international guidelines. For this reason, the CBCS regularly participates
to evaluation processes by international organizations and working groups including the OECD, the
IMF, World Bank and the FATF. Recently the OECD, for example, an evaluation of the
tax transparency and completed the exchange of tax information in Curacao.
The CBCS support processes leading to treaties between our jurisdiction and
other jurisdictions, such as the path that led to a treaty between the Kingdom of
Netherlands relating to Curaçao and the United States of compliance
tax liability and to promote the implementation of FATCA.
Finally, the CBCS member of several international organizations, including the Council of Securities
Regulators of the Americas (cosra) which is part of the International Organization of Securities
Commissions (IOSCO). IOSCO is the international organization of supervisors
securities. Since 2015 the CBCS associate member of IOSCO and is a one-year course
began to lead to full membership. Full membership increases
opportunities for securities trading in Curacao to develop new activities.
CURACAO, March 15, 2015
Central Bank of Curaçao and Sint Maarten